BP Forecast: US Is Destined to Be an Energy Giant Again

Domestic energy production is destined to outstrip consumption in coming years, led by natural gas and U.S. dominance as the world’s biggest producer, so that the nation will stand totally energy independent by 2035, according to a long-range global study by oil giant BP. Worldwide, demand for energy will go up 41 percent by 2035, primarily because of use in emerging economies, BP estimated. During that time period, the U.S. share of global demand is expected to decline to 13 percent from the current 18 percent, and China’s demand will go up to 27 percent from the current 22 percent.

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